Chancellor Jeremy Hunt has unveiled the UK's Spring Budget, introducing measures to boost economic recovery.
Though Hunt suggests the UK will avoid a recession in 2022, the Office for Budget Responsibility (OBR) warns of falling living standards.
The multi-billion-pound tax break to stop high earners leaving the workforce has been criticised by Labour leader Sir Keir Starmer as a "huge giveaway to some of the very wealthiest.
" However, Mr Hunt's plans were welcomed within the NHS as they will help retain experienced staff.
The measures announced in the budget drew mixed reactions from various news sources.
Chancellor Jeremy Hunt announced the Spring Budget for the UK, stating that economic recovery is underway, and the UK will avoid a recession this year.
The OBR warns of dropping living standards by over 5% over the next two years - the most significant decline since the 1950s.
The budget includes measures designed to increase the workforce by removing disincentives to working for longer, such as the abolition of the lifetime pensions allowance and the increase of the pensions annual tax-free allowance.
While welcomed by the NHS, as it will retain experienced staff, Labour leader Sir Keir Starmer criticised the budget for being a "huge giveaway to some of the very wealthiest.
" The budget was drawn out with mixed reactions, with The Guardian stating that the plan is working, while The Independent called the UK the "sick man of Europe once again."